Shore Capital Reaffirms Buy Rating for Tesco (LON:TSCO)

Shore Capital reaffirmed their buy rating on shares of Tesco (LON:TSCO) in a report published on Wednesday morning, Marketbeat reports.

Tesco Stock Performance

Shares of LON:TSCO opened at GBX 291.15 ($3.68) on Wednesday. The company has a debt-to-equity ratio of 129.69, a current ratio of 0.74 and a quick ratio of 0.60. The business’s 50 day moving average price is GBX 285.53 and its 200-day moving average price is GBX 283.93. The firm has a market capitalization of £20.50 billion, a PE ratio of 1,485.00, a P/E/G ratio of 3.35 and a beta of 0.52. Tesco has a 1 year low of GBX 244.20 ($3.09) and a 1 year high of GBX 306.10 ($3.87).

Tesco Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be paid a GBX 8.25 ($0.10) dividend. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from Tesco’s previous dividend of $3.85. This represents a dividend yield of 2.87%. Tesco’s payout ratio is currently 5,500.00%.

Insider Transactions at Tesco

In other news, insider Dame Carolyn Fairbairn purchased 35,000 shares of the stock in a transaction dated Monday, January 15th. The shares were purchased at an average cost of GBX 300 ($3.80) per share, with a total value of £105,000 ($132,894.57). Insiders have bought 35,144 shares of company stock valued at $10,541,403 over the last ninety days. Insiders own 2.06% of the company’s stock.

About Tesco

Tesco PLC, together with its subsidiaries, operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary. It offers grocery products through its stores, as well as online. The company is also involved in the food and drink wholesaling activities.